The European Investment Bank (EIB) has joined forces with three non-profit organisations (NGOs) associated with Road Assessment Programmes (RAP) to halve road-related deaths by 2030.

The initiative includes the European Road Assessment Programme (EuroRAP), the International Road Assessment Programme (iRAP) and the Road Safety Foundation (RSF).

EIB signed a memorandum of understanding (MoU) with the three parties to facilitate investments in national and regional road safety projects.

The partners also agreed to work together to ensure that such investments achieve their intended goals.

EIB Group vice-president Lilyana Pavlova said: “We aim to finance road projects that will help to save lives and prevent serious injuries. The reward both in humanitarian and in economic terms is huge.

“We therefore need to provide not only finance but also access to the required advice, training and skills to develop large scale safer road investment programmes. We all need to work closely together to improve safety on our roads. That is why we are delighted to enter this partnership with the RAP organisations.”

The MoU was signed at the third global meeting of road safety ministers in Stockholm. It is aligned with the new European Union (EU) Strategic Plan for Road Safety, which seeks to reduce road fatalities by 50% by 2030.

The EU plan also revised infrastructure safety management. As a result, the EU Road Infrastructure Safety Management Directive (RISM) now encompasses a new primary inter-urban road network.

All EU-member countries are required to assess the in-built safety of their primary road network by 2024.

EuroRAP chairman Ferry Smith said: “The challenge of the next decade is in managing infrastructure safety in a new way, which needs a changed approach and new skills.

“On behalf of the Road Safety Foundation, EuroRAP and iRAP, I am delighted that we can support EIB in this lifesaving initiative with massive potential throughout Europe and worldwide.”